Dollar General – Alba, Michigan

$1,491,227
Price
$84,999.96
Noi
5.70%
Cap Rate
9,026
Leasable Area
2020
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this new 9,026 SF. Dollar General store located in Alba, Michigan. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5 (5 Year) Options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has completed construction & successfully opened in December of 2020.

This Dollar General is highly visible as it is strategically positioned on Mackinaw Trail (US Highway 131) which sees 7,050 cars per day. The ten mile population from the site is 10,979 while the three mile average household income is $51,473 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 5.70% cap rate based on the NOI of $84,999.96.

INVESTMENT HIGHLIGHTS
• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 5 (5 Year) Options | 10% Increases At Each Option
• 2020 BTS Construction
• Three Mile Household Income $51,473
• Ten Mile Population 10,979
• 7,050 Cars Per Day on Mackinaw Trail (US 131)
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Years of Same Store Sales Growth
• No Competition Within 5+ Miles
• Only Dollar Store Serving the Community!